Digital Finance

Agile and secure digital transformation in financial industry through digital financial platform

Accelerate digital transformation of financial services with digital financial platform

The financial market is witnessing the transformation of financial institutions from companies that used to provide traditional finance products and services with face-to-face channels to digital native financial entities based on digital channels and new technologies. As the traditional value chain in finance is changing into a new value chain with innovative technologies, those financial institutions are becoming digital with the platform services that apply online-centric new channels, products and processes. In line with the changes in the financial market of the digital era, Samsung SDS suggests customized financial services for its customers and helps the customers realize unique and outstanding financial services by utilizing the digital financial platform that is equipped with new technologies such as AI, blockchain, cloud and data.

Trends

Find out how disruptive technologies are transforming financial industry

Customer experience is rapidly becoming digital
Digital experience based on new technologies through various digital channels has become such an important element in the financial service industry. In particular, the millennial tend to value digital experience more than the customer loyalty towards the existing brands and expect immediate problem solving. Therefore, it requires to provide innovative services including chat functions, consulting services, app services with intuitive design and transaction scheme that considers user convenience through a variety of channels.
Customer-centered financial platforms for daily-use purposes are becoming more common online
Platforms are emerging online and on mobile devices as a space where there are various interactive transactions of finance products happening. Through various channels, various contents, convenient financial services and easy payment are available within the platform scheme throughout industries such as travelling, automobile and real estate.
Various financial services based on data are emerging
As a core resource for sustainable growth in the future, data have tremendous values and are expected to contribute to various productive activities through data collection, analytics and utilization. Also, in finance, data are rapidly expanding in various forms. Accordingly, there are growing needs of customized finance products and services through data analytics.

Major Services

Leading digital innovation of financial institutions such as banks, insurance, cards and securities with technologies

Enjoy a better user experience through AI
AI-based financial services are expanding the scope of regulation compliance and risk management in customer consulting, work analytics and automation for less complicated work. Various data recognition and analytics will result in suggestion for customized products and the most optimal consumption patterns. To replace operators, these AI-based services can quickly provide the best answers for the customers and automate complicated work that used to be done manually in order to enhance work productivity.
Safe and convenient financial transaction based on blockchain
Thanks to Samsung SDS world’s first blockchain technology for B2B, financial security will be realized while preventing counterfeit and falsification. Also, convenient and expandable financial services such as auto-imposition of insurance premium and integrated point services are now available based on the blockchain network scheme.
Cloud-based agile financial services
As regulations on financial institutions are improved, there have been more cases of cloud conversion among financial institutions in various forms. Thanks to Samsung SDS financial cloud, those financial firms can enjoy some benefits including cost reduction in IT, flexible use of resources and agile businesses. In the cloud environment, users can experience new technologies to introduce in more convenient manners.

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Testimonials

"Provides a plan to secure the necessary competencies and continuous competitiveness to provide differentiated financial experiences through data."

"Evolution of financial experience starting from connection", Special contribution to financial IT trends 2019.05, Digital Financial Consulting Team, Samsung SDS
"Learn about isomorphic encryption technology that can fundamentally block personal information issues, which are a prerequisite for data connection, and solve both the use and protection of personal data."

"Measures to Apply Homomorphic Encryption for Expansion and Combination of Financial Data", Special Contribution to Financial IT Trends 2019.03, Digital Financial Consulting Team, Samsung SDS

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Case Studies

Bank A

AI-based evaluation automation at Bank A for export/import regulations

It is now able to carry out evaluations for large-scale evaluations related to export/import in convenient, fast and accurate manners.

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Property insurance firm C

Realizing chatbot to use for insurance planning at Property Insurance Firm C

It is now able to provide the insurance service that can immediately respond to customers’ requests with necessary materials in order to enhance the work efficiency for insurance salespersons and their collaboration

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Bank B

Establishing loan platform for policy funds based on blockchain at Bank

Thanks to Nexledger, it is now able to introduce the loan platform that simplifies customers’ loan processes and complicated corporate processes to check out the loan applications and enhances the accuracy in transactions and service ledgers.

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IT Center for Financial Services

Data center for digital transformation in finance

Samsung SDS proudly transferred and implemented the data center of this financial service provider, offering efficient control over the vast amount of data, full-fledged business centralization and real-time communication as well as integrated infrastructure operation/management.

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Awards & Recognition

Samsung SDS acknowledged by global experts

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

- In a report called The Forrester Wave™: Industrial Internet-of-Things Software Platforms, Q3 2021, Forrester identified the 8 most significant IIoT software platform providers after a thorough evaluation of each vendor across 35 criteria grouped into three categories: current offering, strategy, and market presence. Samsung SDS has been named a contender for its Brightics IoT platform.

- The Forrester Wave report states: "The platform supports key industrial IoT software platform functions, including a broad set of wide-area (e.g., 3G, 4G/LTE, and 5G) and short-range wireless (e.g., BLE, Wi-Fi, and Zigbee) connectivity options that are among the most comprehensive in this Forrester Wave."

- The Forrester report also notes: "The Brightics IoT platform is particularly relevant in key industry segments such as manufacturing, construction, building, and logistics."

Use Cases

Digital Finance Services

Automated service for trade assessment
Work efficiency will be enhanced by automatically extracting assessment items through AICR and expanding areas of person-in-charge and auto-assessment based on the workflow of recognition and assessment.

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AI virtual secretary for insurance counselling
Insurance sales work will be supported by recognizing documents to request for insurance benefits through AICR, automating work through data collection with RPA utilization, and swiftly responding (24/7) to work related insurance expertise through chatbot.

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Integrated point platform
Based on the transparent information sharing, points from issuance, money transfer, payment and settlement within the service ecosystem will integrated. It will also help link open-API-based real financial accounts and realize the automation of workflow.

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Auto-imposing service for insurance premium
The duration for assessment and errors from assessment will be reduced by automating document classification and extraction of assessment criteria for the request of insurance benefits. Users can enjoy the improved process of requesting insurance benefits and the benefits can be provided in a timely manner.

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Platform for policy fund loan
Various work will be automated including: loan request and assessment with documents in ‘untact’ manners, information sharing with various partners and automation of data comparison.

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